SBI and Amundi jointly initiate to list SBI Funds Management

Core Viewpoint - SBI and Amundi have initiated an IPO for SBI Funds Management Limited, expected to list in 2026, pending regulatory approval and market conditions [2][3]. Company Overview - SBI Funds Management Limited (SBIFM) was incorporated in 1992 and is primarily owned by SBI (61.9%) and Amundi (36.4%), with a market share exceeding 15.5% in mutual funds and total assets under management of INR 28.31 trillion (€269 billion) [3][4]. - At the IPO, 10% of SBIFM's capital will be offered for sale, with 6.3% sold by SBI and 3.7% by Amundi [3]. Leadership and Strategic Comments - Valérie Baudson, CEO of Amundi, highlighted SBIFM's leadership in the Indian asset management industry and the successful growth leveraging SBI's distribution network and Amundi's expertise [4]. - SBI Chairman, Shri Challa Sreenivasulu Setty, noted that this IPO is timely due to SBIFM's strong performance and market leadership, aiming to maximize value for stakeholders and enhance public visibility [4]. Market Position and Offerings - SBIFM is recognized as a leader in the Indian asset management sector, offering a wide range of investment solutions including Mutual Funds, Specialized Investment Funds, Portfolio Management Services, and more [8][9]. - The company caters to a diverse investor base, including retail investors, high-net-worth individuals, non-resident Indians, corporates, and institutional clients [9]. Commitment to Standards - SBIFM was the first in India's mutual fund industry to adopt the CFA Institute Asset Manager Code of Conduct, demonstrating its commitment to high ethical standards [10]. - The company is also a signatory to the United Nations Principles for Responsible Investment, emphasizing its dedication to sustainable investing [10].